HCMC – F88, a local consumer loan provider, has been awarded the Client Protection Certificate for the second time as it has met seven principles in the care and treatment of customers.
The seven principles, set by the U.S.’ Smart Campaign, comprise appropriate products, prevention of over-indebtedness, transparency, responsible pricing, fair and respectful treatment of customers, the privacy of customer data and mechanisms for complaint resolution.
Smart Campaign organized the Client Protection Certification Program in 2013, teaming up with auditing units such as M-CRIL and MFR to assess microfinancial institutions’ adherence to client protection principles.
Up to now, over 135 financial institutions serving over 50 million customers in 42 countries were certified to demonstrate their compliance with the principles.
In Vietnam, in September 2019, F88 was the first financial institution to receive the certificate, which was valid until October 2021. Recently, F88 received a notice to extend the certificate until June 2025.
F88 currently offers a wide range of financial services, with nearly 700 facilities across Vietnam.